Home Depot (NYSE:HD) Updates FY 2024 Earnings Guidance

Home Depot (NYSE:HD) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 15.100-15.100 for the period, compared to the consensus estimate of 14.840. The company issued revenue guidance of $158.8 billion-$158.8 billion, compared to the consensus revenue estimate of $157.4 billion.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HD. Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Truist Financial increased their price target on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho raised their target price on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, DA Davidson upped their price target on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $426.00.

Home Depot Stock Performance

Shares of Home Depot stock traded down $3.80 during trading hours on Thursday, hitting $406.39. 195,060 shares of the company’s stock traded hands, compared to its average volume of 3,367,940. The company has a fifty day simple moving average of $397.67 and a 200-day simple moving average of $365.56. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.33. The stock has a market capitalization of $403.66 billion, a price-to-earnings ratio of 27.88, a PEG ratio of 2.79 and a beta of 1.01. Home Depot has a 12-month low of $302.34 and a 12-month high of $421.56.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter in the previous year, the firm posted $3.81 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. Equities research analysts anticipate that Home Depot will post 14.99 EPS for the current fiscal year.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.